Show Roosevelt Strikes Nations Nation's Ills In Inaugural Address Addres Tocsin For Economic Econom Chief hief Executive Sounds Strong ic is Troubles Will ViII Ask AsI e War Time Powers 1 II If Necessary To Rout Depression FLAYS PLAYS EXCHANGE MANIPULATION Will ViII Submit Measures To T Carry Carl y Out Ei Point Eight Poin ht-Poin Program At Special Session Of Congress Thousands Thousands Thousands Thou Thou- sands Applaud Address WASHINGTON March 4 Franklin Franklin D. D Roosevelt took over the th presidency residency of an expectant nation today with a bold assurance c oi of leadership and a n pledge that he will demand wartime powers if necessary necessary essary to dissipate the forces of depression Standing bareheaded on the specially constructed platform t trant in front rant of the capitol the newly sworn president told a vast thron throng af of cf his countrymen that he would assume unhesitatingly the leadership leadership leader leader- ship hip of the nation He outlined in general terms an point eight-point line of attack of on economic problems including problems including adequate but sound money an anaid and said aid he would submit detailed recommendations to a special session if of i congress Members of that congress were on hand in full force for th the inaugural festivities They heard their leader speak it at t times as though directly to them again as though to the nation and ind more than that too as though to the world His words went wen everywhere While reserving details in the main for his message to the special cial ial lal session and thereafter he plainly showed his mind In snapshot form orm orm he set his aims to include Stricter supervision of banking credits and investments ending speculation peculation with other peoples people's money Assurance of an ann adequate but sound currency Balancing the federal budget drastic reduction in governmental expenditure national state and local economic readjustment Unification of relief activities National planning for and supervision of transportation and communication com com- and other public utilities Projects to make the most of natural resources Adjustment of population between industrial and rural sections Prepared To Ask For Powers To Meet Crisis The new president expressed the hope that the normal balance of f f executive and legislative authority may be wholly adequate to tc meet neet the unprecedented task but warned that need for action tion may call for temporary departure from that normal balance of if public procedure I am prepared under my constitutional duty to recommend the measures that a stricken nation in the midst of a world nay may ay require he told his cheering audience These measures or such other measures as the congress may mild build out of its experience and wisdom I shall seek within my con- con constitutional authority to bring to speedy adoption But in the event that he congress shall fail to take one of these two wo ro courses and in the event that the national emergency is still ideal critical I shall not evade the clear course of duty that will then conant confront con- con front ant meI meI me I II shall ask the congress for the one remaining instrument to meet cot the crisis crisis broad broad ex executive power to wage a war against the emergency as as great as the power that would be given to me if we weere were ere in fact invaded by a foreign foe Asserting that the nation asks for action and action now I Roosevelt loosevelt made the following general recommendations Putting people to work worl in part by direct recruiting by the government gov- gov itself Adjustments in Industrial ial Rural Sections Recognition of the overbalance of population in industrial centers cen- cen ers rs and provision for a better use of the land by those best fitted for or r the land Definite efforts to raise the values of agricultural products and andus thus bus us the creation of power to purchase the output of cities Prevention of foreclosures of small homes and farms Insistence that the federal state and local governments act forthwith on the demand that their cost be drastically reduced Unification of relief activities National planning for and supervision of all forms of transportation tion tation and of communications and other utilities Safeguards against return of the evils of the old order by strict supervision of all banking and credits and investments put put- ting ing g an end to spec speculation lation with other peoples people's money and provision for or r an adequate but sound currency These are arc the lines of attack the- the president said I shall presently urge rge upon a new nett new congress in special session detailed measures meas- meas ires ures es for their fulfillment and I shall seek the immediate assistance of f the several states Directing his aim at a rounded and permanent national life Roosevelt added We Ve do not distrust the future of essential democracy the peole peo peo- pIe le e of the United States have not failed In their need nee hey h y have registered a mandate that they want direct vigorous action actton They have asked for and direction under leadership They have made me the present instrument of their wish wishes In the spirit of the gift I take it N Nation Will ViII Revive And Will ViII Prosper The new president told his vast audience that the nation will revive and will vill prosper The only thing we have to fear he said is fear itself name itself name nameless less unreasoning unjustified terror which par paralyses lyses needed efforts to convert retreat into advance Only a foolish optimist can deny the dark realities of the mo mo- mo ment Yet our distress comes from no failure of f substance We Weare Weare Weare are stricken by no plague of locusts Plenty is at our doorsteps but a generous use of it languishes in the very sight of the supply Primarily this is because the rulers of the exchange of mankind's mankind's man man- kinds kind's goods have failed through their own stubbornness and their own incompetence have admitted their failure and abdicated Roosevelt added that the unscrupulous money changers stand In the court of public opinion rejected by the hearts and minds of men and have fled from their high seats in the temple |